Many people have misconceptions about flood insurance. Here are some facts that might help you understand flood insurance a little better.
Home insurance does not cover flooding.
Contrary to popular belief, some things are not covered by home insurance. Flooding is one of those things that home insurance will not cover. Most people don’t realize this until after filing a claim. They are then stuck replacing everything out of their pocket.
There are different flood insurance coverage types
There are no insurance policies that suit every need, and that includes flood insurance. Like other types of insurance, flood insurance has different types of coverage you can choose. These include content coverage, building coverage, and both.
Insurance has a waiting period before you can use it
Most insurance companies have a 30-day waiting period before you can file a claim. Unfortunately, this means you have to pay out of pocket if there is a flood before or during that 30 days.
It would be best if you had flood insurance in flood zones.
If you live in a flood zone, your lender might require you to have flood insurance on top of your home insurance before you can buy your house. Even if it is not required, getting flood insurance to protect your home and contents would be a brilliant idea. It can be expensive to replace everything after a flood.
Contact Berks County Insurance
These are only some of the many things you should know about flood insurance. For more information about flood insurance in Reading, PA, stop in for a visit or contact us at Berks County Insurance.